New Mexico governor announces plan to shave state's gross receipts taxes

Citing an estimated savings of $145 million for consumers and businesses each year, New Mexico Gov. Michelle Lujan Grisham on Wednesday announced a proposal to cut the state’s gross receipts tax by about 0.25%.

Lujan Grisham, who announced the measure before business leaders and officials who gathered for a meeting of Albuquerque’s Economic Forum, said the proposal would be the first reduction in the gross receipts tax in some 40 years.

The announcement also provided a glimpse into the governor’s…

Source: The Business Journal